South Shields new-build estate sees house prices jump by more than 50% in just over a year
A new South Tyneside riverside housing estate has seen a huge rise in house prices in just over 12 months.
House prices on a new-build South Tyneside estate have jumped a whopping 54 percent in just over a year – reignited debate about affordable ownership.
The rooms with a river view in Dockwrays Bank at Holborn Riverside, South Shields, are being marketed at up to £480,000 – a rise of £170,000 since March 2025.
The jump could more than buy a house at the borough’s average official government data price of £161,000.
By comparison, property prices in South Tyneside rose on average 4.8% in the year to June, according to the Office for National Statistics.
A jump in prices
Two ‘for sale’ properties in Dockwrays Bank were built by Cussins as part of its phase 2 development of the former brownfield shipyard site, off Commercial Road.
One, a three-bed townhouse with an unspoilt view of the Tyne to North Tyneside, was sold new by the firm in March 2025 for £310,602.
It was put on the market in recent weeks by Harton-based Susan Spokes Real Estate at £500,000 but has since dropped by £20,000.
The property is described as “occupying an enviable riverside position with breathtaking views”, being “exceptional” and “extensively upgraded to an outstanding standard”.
A second property, a four-bed townhouse which sold in August 2025 for £328,652, is for sale at £470,000 with South Shields estate agent Colin Lilley.
‘A property like this is an investment’
Estate agent owner Susan Spokes said she believed Cussins had reduced the price of some properties which sold early.
She commented: “The owners have upgraded a lot, including the kitchen and bathroom and have landscaped the garden, so people can enjoy the view.
“We have got three or four bed homes selling for around £400,000 in South Shields that do not have a view.
“I think the £310,000 made by the builder was a little on the low side. A property like this is an investment.
“You wouldn’t expect to do a lot of work to a house and not make a profit.
“The market is something we have no control over and no control over what someone is willing to pay.
“Many of the people who were interested in buying at this site were not from here.”
‘We do need more affordable housing’
Chris Burchell, director at Colin Lilley, said house builders developing former industrial brownfield sites could never be exact in their launch prices.
He compared that to new housing in established residential areas, such as that being built on the site of South Tyneside College, which have a “baseline” price, due to known market values.
Mr Burchell added: “When developers sell, there’s nothing to compare it to until it becomes second time. We turn up as second-hand.
“Dockwrays Bank and Rose Hill have an unrivalled position compared to anywhere else in the town.
“When there’s something unique, there’s always people interested, it may be someone from Essex who wants a river view.
“We do need some flexibility on pricing. It’s public information what it sold for first time around, but the property is a beautiful proposition, it’s a lifestyle.
“We do need more affordable housing and more social housing, rather than purely private.”
Cussins was asked if it had misjudged the market around pricing but did not respond.